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Q: The rate of an item at the store godowns from public market at a given time is called the ______.
  • A. item rate
  • B. storage rate
  • C. market rate
  • D. current rate
Correct Answer: Option C - Market rate : The rate of an item at the store godown from the public market at a given time is called market rate. It includes carting, incidental charges, depriciation and a reasonable provision of the wastage. Storage rate : The expenses to be incurred for preserving the materials including rent. electric charges staff for handling the material and cleaning the godown etc. The total amount spent per year is called storage rate. Issue rate : The rate fixed for issue of each article from the store is known as its issue rate. This rate is fixed on the basis of on loss and no profit. Item rate : The rate of individual work/material used in estimation is called item rate.
C. Market rate : The rate of an item at the store godown from the public market at a given time is called market rate. It includes carting, incidental charges, depriciation and a reasonable provision of the wastage. Storage rate : The expenses to be incurred for preserving the materials including rent. electric charges staff for handling the material and cleaning the godown etc. The total amount spent per year is called storage rate. Issue rate : The rate fixed for issue of each article from the store is known as its issue rate. This rate is fixed on the basis of on loss and no profit. Item rate : The rate of individual work/material used in estimation is called item rate.

Explanations:

Market rate : The rate of an item at the store godown from the public market at a given time is called market rate. It includes carting, incidental charges, depriciation and a reasonable provision of the wastage. Storage rate : The expenses to be incurred for preserving the materials including rent. electric charges staff for handling the material and cleaning the godown etc. The total amount spent per year is called storage rate. Issue rate : The rate fixed for issue of each article from the store is known as its issue rate. This rate is fixed on the basis of on loss and no profit. Item rate : The rate of individual work/material used in estimation is called item rate.